Bajaj Auto sets up a Rs 300 cr EV manufacturing unit in Pune.
- ByStartupStory | December 30, 2021
Bajaj Auto announced an investment of Rs 300 crore in Akurdi, Pune, for manufacturing electric vehicles (EVs). Spread over an area of half a million square feet, the company will be employing nearly 800 people and is expected to have a production capacity of 500,000 EVs a year.
Managing director of Bajaj Auto, Rajiv Bajaj said in a statement, “In 2001, Bajaj 2.0 took off on the roaring Pulsar. In 2021, Bajaj 3.0 arrived on the charming Chetak. Going forward, for the Bajaj portfolio, except for implementing one state-of-the-art ICE platform that is currently under development, all our R&D resources are now laser focused on creating EV solutions for the future. This alignment reflects our belief that light EVs for sustainable urban mobility is an idea whose time may finally have come,”
Rivals Hero MotoCorp and TVS Motors are also making steady progress to have a stable EV business along with their traditional IC engine products. Their Chittoor manufacturing facility in Andhra Pradesh is escalating the EV business.TVS bought 80 per cent in EGO Movement, a Swiss e-bike company, for $17.9 million.
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